Small Business Grants for EU Companies

Are you thinking of starting a business in the European Union? You might not have to foot the entire bill yourself. There are certain countries that offer small business grants to start or grow a business under certain conditions.

If you fit the guidelines for one or more of these grants for small businesses, you could get a boost that takes your company further faster without the burden of taking on debt.

What is a Small Business Grant?

If you’re unfamiliar with small business grants, this should clear things up.

New businesses often need help with borrowing money since banks and other lenders may want to see a financial track record to assess the likelihood of the business paying back the money.

And established businesses that have already leveraged debt may not get approved for further funds, as banks may see them as riskier since they already have debts to repay.

With grants, there is no requirement to pay back the money. Grants typically have requirements about how the money is to be used, the industry the business is in, et cetera. There are sometimes grants that target brand-new businesses, which is good news if other financing avenues aren’t available to you.

There may be more competition for grants, and so many companies choose to hire a professional grant writer to ensure the best application possible.

Why Small Business Grants in the EU Exist

So why would companies and organizations give away money that doesn’t have to be repaid?

The countries that offer small business grants may seek to boost the economy by attracting new startups and companies. New businesses mean more jobs and more money put back into the local economy. In some cases, countries seek to bolster certain economies, such as tech, energy, or health.

Often it’s countries that aren’t overpopulated and that don’t normally attract high-net-worth individuals. By offering grants, they may bring foreign investors into the country, and many also offer golden visas to further entice them to come.

What You’ll Need to Apply

It can be helpful to gather these items before applying for grants. Some grants may have other required documents, so be sure to check the specific requirements before applying.

• Business plan
• Business licenses or permits
• Financial information
• Pitch deck

Even if your business is new, organizations offering grants want to see that you have a plan for where you’ll take the company, which is why you’ll need a business plan. (If you don’t have one yet, there are free small business resources like SCORE that can help you put one together.)

You may be asked for other details, like information on the owner/s, business licenses or permits, and employer identification number.

They’ll also want to see any financial history if you have it. If not, create a sales forecast to paint a picture of what you expect your financials to look like. And you may also be asked for a pitch deck, like what you would present to a venture capitalist or investor.

Small Business Grants for EU Companies

Now let’s check out a few of the small business grants available in the European Union.

European Commission Funding & Tender Opportunities

This website offers a network of funding opportunities you can browse to see what you’re eligible to apply for. You can also apply for the grants directly from this site.

European Digital SME Alliance

The European Digital SME Alliance is the largest network of grants for small and medium enterprises (SMEs) in internet and communication technology in Europe. If your business falls into this industry, you can search for grants by categories, including aerospace and defense, cyberspace and data protection, entrepreneurship, innovation, manufacturing, and more.

Eureka Network Projects

The Eureka Network Projects is open all year to applicants with a project that:

• Represents international cooperation
• Is directed at researching or developing a product, process, or service
• Has a civilian purpose
• Has a consortium with at least two independent legal entities from at least two Eureka countries
• Doesn’t have a single organization or country that is responsible for more than 70% of the project budget

BoostUp! East 2023

BoostUp! East 2023 is for startups specializing in manufacturing technologies in Austria, Croatia, Czechia, Hungary, Serbia, Slovakia, and Slovenia.

Prizes are as follows:

• First prize: €7,000
• Second prize: €5,000
• Third prize: €3,000

Additionally, there is a special prize of €5,000 offered by Vienna Business Agency to a promising green tech startup or a female-led startup.

European Prize for Women Innovators

The European Prize for Women Innovators provides funds for women who have founded an innovative company at least two years before applying and who are established in an EU Member State or Horizon Europe Associated Country. To qualify, you must be under 35, though there is no age limit to apply for the Women Innovators or EIT Women Leadership prize.

The Ideas Powered for Business SME Fund

The Ideas Powered for Business SME Fund is a grant scheme designed to help small and medium-sized enterprises (SMEs) protect their intellectual property (IP) rights. The program allows businesses in certain countries to receive reimbursement for trademark and other IP expenses.

LIFE Programme

The LIFE Programme is the EU’s funding instrument for the environment and climate action. There are several different grants that fall under the umbrella of this program, in categories including Nature and Biodiversity, Circular Economy and Quality of Life, Climate Change Mitigation and Adaptation, and Clean Energy Transition.

European Maritime, Fisheries, and Aquaculture Fund (EMFAF)

The EMFAF program provides funding for innovative projects that ensure that aquatic and maritime resources are used sustainably. The total budget for 2021-2027 is €6.108 billion.

Digital Europe Programme

The Digital Europe Programme provides funding for projects in five areas:

• Supercomputing
• Artificial intelligence
• Cybersecurity
• Advanced digital skills
• Ensuring the wide use of digital technologies across the economy and society

The program is worth €7.6 billion, and funds are divided among each of the above categories.

The Open Data Incubator for Europe (ODINE)

The Open Data Incubator for Europe program is a six-month incubator for open data entrepreneurs across Europe. It is funded with a €7.8m grant from the EU’s Horizon 2020 programme. During the six months, participants receive mentorship, in-house support, dedicated events, media promotion, and access to an international network.

Startup Scaleup

Startup Scaleup is another six-month accelerator program, enabling participating startups to receive mentorship and support from leading experts in IOT (Internet of Things). To qualify, your startup must be in Ireland, Spain, Netherlands, or Lithuania.

Making Your Grant Application Stand Out

Understandably, grant and funding programs like the ones we’ve looked at can be highly competitive. That’s why it’s important to make sure your application stands out.

Start by reviewing the requirements and deadlines for a grant. Make sure you meet all the criteria to apply; otherwise, you’ll waste your time as well as the review board’s time. Allow yourself plenty of time before the deadline to gather the necessary materials and write anything the application requires. It may be helpful to create a spreadsheet of all small business grants in the EU, along with their criteria data and deadlines, so you can easily access the information.

If you are asked to write about your business, consider the following: What makes your company unique? Why is it unlike any other? Why should it be the recipient of this grant?

If you’re not skilled in writing, you might want to hire a professional grant writer who knows what organizations are looking for in applications and who can make your company shine.

Don’t just apply for one grant; apply for all you qualify for. That way, you’ll increase your odds of receiving one. And if you are awarded more than one, so much the better!

For companies that do business in the European Union (or who would like to enter the market), small business grants like these may help them afford more opportunities while creating jobs and contributing to the local economy.